Boston to Sell $460.8 Million of General Obligation Bonds

Published: 2025-05-15 15:15:07 ET RJF

Published on 05/15/2025 at 15:15

By Josh Beckerman

The City of Boston said it plans to sell $460.8 million of general obligation bonds maturing from 2026 through 2045 to finance various capital projects.

The city expects a retail order period of May 20 and institutional pricing May 21, according to a roadshow document posted on MuniOS. Delivery is expected June 5.

Interest on the bonds will be paid semiannually each Feb. 1 and Aug. 1, commencing Feb. 1, 2026, the city said.

Boston said it had a pattern of annual budget surpluses and said property-tax revenue has grown 26.9% from fiscal 2021 to fiscal 2025. It said budgeted revenues for fiscal 2025 are expected to total $4.6 billion.

The bonds have ratings of AAA from S&P Global Ratings and Aaa from Moody's Ratings.

S&P said Tuesday that "We do not anticipate changing the rating within the outlook period as we expect the city to maintain its proactive budgeting stance and produce balanced operations, while making continued investments in infrastructure and addressing unfunded retirement liabilities."

Raymond James and Wells Fargo Securities are lead underwriters.

Write to Josh Beckerman at [email protected]

(END) Dow Jones Newswires

05-15-25 1514ET